Automobile sector to increase prices of vehicles from January

MG Motor India has announced that it will increase the price of vehicles from January.

Automobile industrial,

Price of automobiles in India increased in January

The rise is due to overall inflation and rising costs, the company said. There is no word on how much the price hike is going to be.

Coming, from January 2024 onwards, MG Motor India has announced that the price of all its vehicles will be hiked. The price hike will be effective from January 1, 2024.

The price increase of MG Motors is due to the economic challenges prevailing globally, the company said. Increase in cost of raw materials, increase in transportation cost, increase in production cost are attributed to the reasons for this increase in prices.

Following MG Motors, other leading automakers like Maruti Suzuki, Mahindra, Tata Motors, Audi, Bajaj Auto, Honda, Ford, Scotiabank, Kia have also hiked the prices of their vehicles recently.

Due to this price hike, the price of vehicles in India is expected to increase further. It is said that this will cause additional burden on the customers.